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Guy Hands, chairman of Terra Firma, must wait until the end of March to learn if he has won his high-profile attempt to sue Citigroup in New York rather than London over allegations that the bank misrepresented circumstances surrounding the £4.2bn (€4.6bn) takeover of EMI.

At the US District Court in Manhattan, Judge Jed Rakoff said he had not decided where the case should be heard.